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Lawmaker seeks CFPB fair lending investigation of fintech small business lenders

Posted in CFPB Rulemaking, Fair Lending, Technology

A Democratic congressman has raised concerns about potentially discriminatory lending practices used by fintech companies that extend credit to small businesses, calling on the CFPB “to vigorously investigate whether [such fintech companies] are complying with all anti-discrimination laws, including the Equal Credit Opportunity Act.” In a letter to Director Cordray dated March 15, 2017, Representative… More >